Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline | |
Anonymous Coward User ID: 62887824 France 08/02/2021 02:20 PM Report Abusive Post Report Copyright Violation | most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole the Great Depression of 1930s will be child's play compared to what's to come and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons |
General Thade
User ID: 41996781 United States 08/02/2021 02:21 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 15006093 United States 08/02/2021 02:23 PM Report Abusive Post Report Copyright Violation | most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency Quoting: Anonymous Coward 62887824 so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole Mostly true but not 100% Russia, China, and their satellites will be fine as they have decoupled from the dollar. China, specifically is set up to have the yuan become the worlds new reserve currency. |
Anonymous Coward User ID: 80246342 United States 08/02/2021 02:29 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80396615 United States 08/02/2021 02:51 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79339862 United States 08/02/2021 02:53 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 26775783 United States 08/02/2021 02:54 PM Report Abusive Post Report Copyright Violation | If the dollar were to crash, I'm sure Saudi and the rest of the oil producers would start accepting other currencies. It wouldn't cripple the rest of the world unless they rely on USA for any import/exports..ie food. |
Anonymous Coward User ID: 78334071 United States 08/02/2021 03:21 PM Report Abusive Post Report Copyright Violation | |
Swingline
Forum Moderator User ID: 78291643 United States 08/02/2021 03:22 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79724200 United States 08/02/2021 03:23 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 15766710 United States 08/02/2021 03:35 PM Report Abusive Post Report Copyright Violation | most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency Quoting: Anonymous Coward 62887824 so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole the Great Depression of 1930s will be child's play compared to what's to come and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons I definitely know someone was trying to strip the population of their gold about what was it, 12 years ago? Suddenly on every corner, you saw cash for gold, cash for gold, cash for gold. I don't see those signs or stores anymore like I used to, but for about a year or 2, they were definitely getting everyone to bring their gold in. Myself and many people I know got on the bandwagon (I had very little, later found out I was entirely ROBBED). Where did all that gold go, exactly? Someone was stockpiling it somewhere... |
Anonymous Coward User ID: 80681234 United States 08/02/2021 03:37 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 74071504 United States 08/02/2021 03:41 PM Report Abusive Post Report Copyright Violation | This is by design. Our traitors in congress blew the doors off the budget, smashed the piggy bank,spent like drunken sailors and fattened up their purses. Now its time to make the populace suffer, turn off the money. Watch the stock market. It going D O W N See you at the bottom, hope you got your ammo. (gg) |
Nobuddy User ID: 74728929 Canada 08/02/2021 03:45 PM Report Abusive Post Report Copyright Violation | Cuz.. like yeah, when 13-trillion dollars doesn't quite get'er done, they didn't just 'miss' the debt ceiling they blew a big'ol double barreled sloppy phuckin' hole right through it. Crazy kids.. remember one man's ceiling is another man's floor, just sayin'. Strange daze indeed.. |
Anonymous Coward User ID: 78093641 United States 08/02/2021 03:48 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 22935650 United States 08/02/2021 03:52 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78338934 United States 08/02/2021 03:52 PM Report Abusive Post Report Copyright Violation | The United States has been bankrupt for a long time first we couldn't pay our debts to the king of England for fighting the revolutionary war that time they mortgage the land that's why you pay a property tax the second time the country went bankrupt they instituted the social security act the people with social security numbers are surety for the national debt. So essentially they mortgaged all of your labor via the taxing ability they could put on it when you join social security. Now that's not enough to pay all the interest owed to the creditors. If they decide to foreclose on the rest of the USA people with social security numbers have pledged all of their assets to the national debt. |
Anonymous Coward User ID: 78338934 United States 08/02/2021 03:55 PM Report Abusive Post Report Copyright Violation | The United States has been bankrupt for a long time first we couldn't pay our debts to the king of England for fighting the revolutionary war that time they mortgage the land that's why you pay a property tax the second time the country went bankrupt they instituted the social security act the people with social security numbers are surety for the national debt. So essentially they mortgaged all of your labor via the taxing ability they could put on it when you join social security. Now that's not enough to pay all the interest owed to the creditors. If they decide to foreclose on the rest of the USA people with social security numbers have pledged all of their assets to the national debt. Listen up. |
Anonymous Coward User ID: 73946650 United States 08/02/2021 03:58 PM Report Abusive Post Report Copyright Violation | most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency Quoting: Anonymous Coward 62887824 so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole the Great Depression of 1930s will be child's play compared to what's to come and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons BS. Most countries have or getting ready to ditch the worthless dollar. USA is fukd |
Anonymous Coward User ID: 78470944 United States 08/02/2021 04:01 PM Report Abusive Post Report Copyright Violation | |
Dalek Uno User ID: 80691743 Germany 08/02/2021 04:02 PM Report Abusive Post Report Copyright Violation | most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency Quoting: Anonymous Coward 62887824 so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole the Great Depression of 1930s will be child's play compared to what's to come and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons BS. Most countries have or getting ready to ditch the worthless dollar. USA is fukd only chance they have is to crash the Euro so money starts flooding back into the dollar |
Dalek Uno User ID: 80691743 Germany 08/02/2021 04:02 PM Report Abusive Post Report Copyright Violation | most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency Quoting: Anonymous Coward 62887824 so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole the Great Depression of 1930s will be child's play compared to what's to come and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons BS. Most countries have or getting ready to ditch the worthless dollar. USA is fukd only chance they have is to crash the Euro so money starts flooding back into the dollar |
KipKat
User ID: 80668400 Netherlands 08/02/2021 04:03 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80385393 Canada 08/02/2021 04:04 PM Report Abusive Post Report Copyright Violation | It means they Congress blew their wad on the fake scamdemic, and now the US is bankrupt. Notice how things have been gradually getting more and more expensive the last 6-8 months? That's called inflation, soon to be hyper-inflation. The dollar is becoming worthless. It's what happens to a country when their politicians spend spend spend...ask Venezuela or Zimbabwe |
Adjudicator
User ID: 79078255 United States 08/02/2021 04:05 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80606438 United States 08/02/2021 04:09 PM Report Abusive Post Report Copyright Violation | they have 6-weeks to get the "Homes" in order. To apply the finishing touches to their "safe spaces" before the default. Name one government in history that gave the people a heads up on financial collapse? Name just one. |
oniongrass
User ID: 80365283 United States 08/02/2021 04:10 PM Report Abusive Post Report Copyright Violation | When you're in debt and can't make the payments, you can borrow more to make the payments, but of course it means future payments will be even bigger. Well maybe you can't, because after a while a bank wouldn't lend to someone who is mishandling their life this way. But the US can. It directs the Fed to lend it the money, which the Fed then creates and lends. The Fed does as it's told (and it can also trade for its own account, which some people worry about.) Thus the Fed allows us to expand debt-based money infinitely. We failed to pass the internal law that would allow us to direct the Fed to lend us the money to make the next round of payments on our current debt. That's what just happened. ********** We were starting to pay down debt during the Clinton administration, but then Clinton went on TV (this speech is impossible to find but I remember watching it) and said he'd start borrowing more because the world depended on being able to invest in US Treasury 30 year bonds, and if we're not borrowing we're not issuing bonds. He actually said that. My mouth was hanging open. And ever since then, the debt has mushroomed to unimaginable numbers. Now that I see how weird things have gotten 25 years later, I wonder if the intent was to get us into unpayable debt with such a level of craziness that nobody even knows how much we owe anymore. Last Edited by oniongrass on 08/02/2021 04:11 PM . DON'T VAX, PROPHYLAX! ____________ There is no anger in Me: If one offers Me thorns and thistles, I will march to battle against him, And set all of them on fire. But if he holds fast to My refuge, He makes Me his friend; He makes Me his friend. (Isaiah 27:4-5) |
Anonymous Coward User ID: 30148669 United States 08/02/2021 04:13 PM Report Abusive Post Report Copyright Violation | This is not news they've got months to raise it and they always do. Quoting: Anonymous Coward 80246342 Since when has the debt ceiling EVER mattered??? It is 'arbitrary measure' that they routinely blow through. Our national debt wasn't even a campaign issue in the last election. This country is bankrupt thanks to the shysters in both parties - we are absolutely on our own; nobody is coming to save us! |
Dalek Uno User ID: 80691743 Germany 08/02/2021 04:13 PM Report Abusive Post Report Copyright Violation | When you're in debt and can't make the payments, you can borrow more to make the payments, but of course it means future payments will be even bigger. Well maybe you can't, because after a while a bank wouldn't lend to someone who is mishandling their life this way. But the US can. It directs the Fed to lend it the money, which the Fed then creates and lends. The Fed does as it's told (and it can also trade for its own account, which some people worry about.) Thus the Fed allows us to expand debt-based money infinitely. We failed to pass the internal law that would allow us to direct the Fed to lend us the money to make the next round of payments on our current debt. That's what just happened. ********** We were starting to pay down debt during the Clinton administration, but then Clinton went on TV (this speech is impossible to find but I remember watching it) and said he'd start borrowing more because the world depended on being able to invest in US Treasury 30 year bonds, and if we're not borrowing we're not issuing bonds. He actually said that. My mouth was hanging open. And ever since then, the debt has mushroomed to unimaginable numbers. Now that I see how weird things have gotten 25 years later, I wonder if the intent was to get us into unpayable debt with such a level of craziness that nobody even knows how much we owe anymore. I haven't checked this, but with the increasing share of internal lenders (FED and Social Security) the danger of default grows, since defaulting on international debts would have far larger repercussions. |
Dalek Uno User ID: 80691743 Germany 08/02/2021 04:13 PM Report Abusive Post Report Copyright Violation | When you're in debt and can't make the payments, you can borrow more to make the payments, but of course it means future payments will be even bigger. Well maybe you can't, because after a while a bank wouldn't lend to someone who is mishandling their life this way. But the US can. It directs the Fed to lend it the money, which the Fed then creates and lends. The Fed does as it's told (and it can also trade for its own account, which some people worry about.) Thus the Fed allows us to expand debt-based money infinitely. We failed to pass the internal law that would allow us to direct the Fed to lend us the money to make the next round of payments on our current debt. That's what just happened. ********** We were starting to pay down debt during the Clinton administration, but then Clinton went on TV (this speech is impossible to find but I remember watching it) and said he'd start borrowing more because the world depended on being able to invest in US Treasury 30 year bonds, and if we're not borrowing we're not issuing bonds. He actually said that. My mouth was hanging open. And ever since then, the debt has mushroomed to unimaginable numbers. Now that I see how weird things have gotten 25 years later, I wonder if the intent was to get us into unpayable debt with such a level of craziness that nobody even knows how much we owe anymore. I haven't checked this, but with the increasing share of internal lenders (FED and Social Security) the danger of default grows, since defaulting on international debts would have far larger repercussions. |